- Peter Thiel-backed crypto exchange Bullish files for IPO with SEC.
- Plans to raise $100 million on NYSE.
- Aims at institutional investors with high-performance services.
As a prominent move within the crypto and traditional finance sectors, Bullish’s IPO aims to attract institutional investments, signaling the melding of these financial worlds.
Founded in 2020, Bullish is positioning itself as a leading institutional-grade digital asset exchange. The IPO filing, supported by prominent backer Peter Thiel, suggests confidence in crypto’s potential among traditional financiers. J.P. Morgan, Jefferies, and Citi are a few bookrunners involved, showcasing substantial institutional interest. The company has traded over $1.25 trillion in assets as of March 2025.
Initially, the IPO filing seeks to draw institutional investors by emphasizing high-performance trading services. The filing highlights Bullish’s ambition of bridging conventional financial systems with blockchain technology. The exchange, however, states it does not plan to provide services to China’s residents.
The Bullish IPO could influence the larger crypto market by attracting more mainstream investors. Such moves have historically impacted crypto trading volumes and pricing dynamics. A similar event was the Coinbase 2021 direct listing, which catalyzed increased market attention.
This strategic step by Bullish may pave the path for future interactions between traditional finance and digital assets, potentially influencing regulatory and technological landscapes. The company’s market positioning could enhance order flow for major cryptocurrencies like BTC and ETH as adoption widens.
“Bullish has applied to list its ordinary shares on the New York Stock Exchange under the ticker symbol ‘BLSH’.” – Bullish Official Website
